After first being proposed in June 2020 and passing an initial checkpoint review by the 10 Technical Standards Committee members, the standardised format for Merkle proofs is now recommended for all businesses across the BSV ecosystem that utilise Merkle proofs in their application or service.
Bitcoin SV Technical Standards Committee released the latest Travel Rule Specification covering FATF compliance and regulation for public review.
The free virtual event, taking place on September 16, will look at the advantages of being involved in a technical working group.
The Merkle Proof Standard is important because it allows for easier interoperability in BSV payments, as well as providing a utility-driven platform for simple payment verification services on Bitcoin blockchain.
At CoinGeek Zurich conference, attention was paid to the many data applications, but without technical standards, utility decreases for developers and for platform users.
The aim of the roadmap is to present a clear technical direction which the whole Bitcoin SV ecosystem can rely on, in line with the mission of the Technical Standards Committee to improve utility through standardization.
The event laid out the Technical Standards Committee’s proposed roadmap, before inviting input from stakeholders keen to help shape the future direction of the Bitcoin SV ecosystem.
The Bitcoin Association has established a Bitcoin SV Technical Standards Committee as a cornerstone of BSV’s increased distinction from the blockchain economy at large.
The recently-formed Technical Standards Committee has set 5 billion users as the figure Bitcoin must achieve to claim success.